Generally no, Cards are not cancelled for "too many" claims on insurance.
The insurance is offered in good faith, and if you make claims, those claims will either be considered valid/covered and paid out - or they won't be considered covered and the claim won't be paid.
Sometimes insurances have clauses that cap the maximum (amount or number of claims) that can be made by the insured party within a year for certain things, so I think the worst that could happen is that your insurance stops paying out in the event you reach your maximum cover. You would have to check your specific insurance docs for this information though.
If on the other hand there is cause to believe a customers has abused any of the insurances with falsified or innaccurate claims then insurance cover can be removed and depending on the situation this *could* I believe result in your card being cancelled in certain cases. Its rare that this would happen I think - and I'm not suggesting this in any way applies to your situation
